§ 32.28 ELECTRONIC FUND MANAGEMENT METHODS.

   (A)   Pursuant to the provisions of IC 5-13-5-5, as amended, the Town Council, as fiscal body of the town, a municipal corporation and political subdivision in the state, hereby authorizes the Town Clerk- Treasurer, as fiscal officer of the town, to administer and manage town funds in the following types of transactions and activities by electronic means, namely:

      (1)   Receipt and disbursement of town monies as deemed appropriate through secure online banking methods;

      (2)   Transfer of funds for timely payment of debt service obligations;

      (3)   Payment of necessary closing costs and related expenses associated with bond proceeds and/or property acquisition through wire transfer, and to receive funds by such means from financial institutions;

      (4)   Transfer of funds for the purchase and redemption of investments, as permitted by applicable law;

      (5)   Transfer of appropriate funds collected from the Wastewater Utility to the Storm Water Utility, the Water Utility, and the Garbage Contract Fund in order to ensure that cash flow is consistent with the posting of utility accounts and receipts;

      (6)   Payment of applicable utility receipts tax and sales tax to the state as required by applicable law;

      (7)   Payment deductions from employees’ compensation and benefits to the appropriate entities by electronic funds as such technology becomes available for:

         (a)   complying with all federal, state, and local income tax obligations;

         (b)   child support and wage garnishments;

         (c)   payments due to the Public Employees’ Retirement Fund (PERF);

         (d)   payment on behalf of participants of 125 Plans (AFLAC) and the 457 Plans (VALIC, Nationwide, AUL, IMMA), worker’s compensation premiums, group health premiums, and any other obligation concerning employee pay and benefits as deemed appropriate by the Clerk-Treasurer; and

      (8)   Payment by the Clerk-Treasurer of any fees that may be associated with the services as described herein.

   (B)   The Town Clerk-Treasurer, as fiscal officer, pursuant to the requirements of IC 5-13-5-5(b)(2), as amended, shall maintain proper and adequate documentation of the authorized transactions conducted by electronic funds transfer or methods in conformance with the rules, regulations, and requirements of the state Board of Accounts, as amended from time to time, so that such transactions may be audited as provided by applicable law.

(Ord. 1087, passed 5-6-10)

§ 32.29 PAYMENT METHODS PERMITTED BY APPLICABLE PROVISIONS OF IC 36-1-8-11 FOR CUSTOMER UTILITY PAYMENTS OWED THE TOWN.

   (A)   Pursuant to the provisions of IC 36-1-8-11, as amended, the Town Council, as fiscal body of the town, a municipal corporation and political subdivision in the state, hereby authorizes the Town Clerk- Treasurer, as fiscal officer of the Town, to establish procedures and protocols compliant with the requirements of the state Board of Accounts to accept and/or collect payments made to the town and its municipally-owned utilities by means of the following methods, namely:

      (1)   Cash;

      (2)   Check;

      (3)   Bank drafts;

      (4)   Money orders;

      (5)   Bank cards or credit cards;

      (6)   Debit card; and

      (7)   Electronic funds transfers or direct deposit.

   (B)   Consistent with the provisions of IC 36-1-8-11, in the event that there is a charge to the town or town municipally-owned utilities for the use of a financial instrument, as set forth above, the Town Clerk-Treasurer is hereby authorized and directed to collect a sum equal to the amount of the charge from the resident or utility customer using the financial instrument authorized. All procedures for a particular or specific type of payment authorized herein is required to be uniformly applied to all payments of the same type.

   (C)   The Town Clerk-Treasurer, as fiscal officer, shall maintain proper and adequate documentation of the payment collection under the financial instruments authorized hereinabove in conformance with the rules, regulations, and requirements of the state Board of Accounts, as amended from time to time, so that such transactions may be audited as provided by applicable law.

(Ord. 1092, passed 7-6-10; Am. Ord. 1126, passed 4-5-11)

§ 32.29A IRREGULAR VARIANCES, LOSSES AND SHORTAGES; THEFTS.

   (A)   Purpose. This policy is intended to comply with the provisions of IC 5-11-1-27, and State Examiner Directive 2015-6 issued November 18,2015, each as currently in effect, or amended hereafter from time to time.

   (B)   Materiality threshold.

      (1)   (a)   The materiality thresholds for the town shall be as follows:

            1.   Governmental activities and sewer utility - $3,000.

            2.   Water utility - $ 1,000.

            3.   Storm water utility - $500.

         (b)   If the irregular variance, loss or shortage is not cash or a cash-equivalent, the value of the item at the time of the variance, loss or shortage shall be used to determine whether the materiality threshold has been met.

      (2)   All irregular variances, losses or shortages exceeding the above thresholds shall be reported upon completion of the bank reconciliations or within 30 days of the monthly accounting period closing, whichever occurs first, to the State of Indiana Board of Accounts. In addition, irregular variances, losses or shortages which occur more often than four times in a month and which in the aggregate total the amounts indicated above shall be reported immediately to the State of Indiana Board of Accounts.

      (3)   Any theft of public funds or assets of any value upon discovery, shall be immediately reported to the State of Indiana Board of Accounts and the Office of the Lake County Prosecuting Attorney.

   (C)   Knowledge of misappropriation. A public officer who has knowledge of or reasonable cause to believe that there has been a misappropriation and/or theft of public funds or assets of the public office shall immediately send written notice of the misappropriation and/or theft to the State of Indiana Board of Accounts and the Office of the Lake County Prosecuting Attorney.

   (D)   Maintenance of documentation. The town shall maintain records and documentation concerning irregular variances, losses, shortages and thefts in accordance with generally-accepted accounting principles and the required minimum internal control standards established as required by the State of Indiana Board of Accounts.

   (E)   Resolution of incidents not meeting the materiality threshold. The town shall immediately, upon discovery, investigate all irregular variances, losses, or shortages regardless of whether such meet the materiality threshold established by this town policy. Upon conclusion of each such investigation, the town shall:

      (1)   Implement procedures designed to prevent the recurrence of such incidents; and

      (2)   Take appropriate disciplinary action against the employee(s)/town official(s) responsible for the incident.

(Ord. 1234A, passed 6-7-16)

FUNDS

§ 32.30 GENERAL FUND.

   There is created a general fund into which all moneys received by the town, and not required to be deposited in a specific fund, shall be required to be deposited.

(‘82 Code, § 2-100)

Cross-reference:

   Special non-reverting fund for receipt of gifts, donations and subsidies, see § 32.52

§ 32.31 MOTOR VEHICLE HIGHWAY FUND.

   There is created a motor vehicle highway fund into which all funds received from the state motor vehicle highway distribution shall be deposited.

(‘82 Code, § 2-101)